Adroit Market Research - Industry Insights

Voice based shopping is a new trend owners of digital assistants that work by recognizing voice, natural language processing and speech synthesis are following. Digital assistants and voice based devices help users buy products only by commanding tasks to the devices. Smart devices and speaker records consumer information like payment or contact details. However, with Alexa and Google these details are already updated during the registration process. This pre saved information makes it easier for the devices to take orders and process it. In the future, these devices will give more personalized experience to the buyer at the same time understand different voices in the same house.

Talking to your devices and getting your work done very simply explains what voice based shopping can do. This revolutionary voice search technology can be your new go to shopping destination.

Your Basic guide to Voice Based Shopping

Voice based shopping is a new trend owners of digital assistants that work by recognizing voice, natural language processing and speech synthesis are following. Digital assistants and voice based devices help users buy products only by commanding tasks to the devices. Smart devices and speaker records consumer information like address, payment details, and contact details. However, with Alexa and Google these details are already updated during the registration process. This pre saved information makes it easier for the devices to take orders and process it.

Voice Based Shopping is revolutionizing the way consumers are buying. Many across the globe prefer e-commerce mode of shopping. Some of the factors driving the e-commerce market are the ease of shopping anywhere and anywhere, attractive offers, wide range of products and quick delivery and return systems offered by e-commerce vendors.

Trends, Benefits and Challenges of Voice Based Shopping

Voice based shopping is extremely convenient for buyers as it allows reordering based on previously placed orders at the same time it gives various options and alternatives for the same ordered product. Smart devices save information regarding your product preference, brand, price bracket, quantity to reorder the same product in the future.

However, voice based shopping has many challenges to overcome, to have a brighter and longer future. Some of the challenges faced by the voice based shopping industry are:

• Difficulty in voice recognition, as the concept is all about voice there might be times the system doesn’t understand and comply with your language. This might be due to technical difficulties or change in voice tone due to several reasons.
• The ordering process is simple in Alexa since the details are already fed in the system. Incidents of accidental purchases are reported owing to the ease of process. Especially in case of children where accidental order placement can also take place. Amazon not only orders for you, but also analyzes and saves your purchases.
• Ordering the wrong product is also possible as buyers can’t see the product here like in the case of app shopping. No provision of visual aid to analyze a product before purchasing can cause problems for the voice based shopping market. But then again, there is fair change of the convenience provided by these devices overpowering its limitation of visual aid.

These challenges are expected to be resolved in future, with the help of growing innovation in various phases of technology.

How Marketers Are Preparing For This Shift

Brands are required to have a defined voice engine optimization strategy. Once, they accomplish definition of a strategy, next task would be to work on building a keyword list specific to voice search. Voice search utilizes more conversational tones, and the company is required to optimize for long-tail phrases and keywords. As the early adopters share their experience, most of the search queries on voice search are question-based keywords.

At the end, a business or company need to optimize for voice search through featured snippets. The best possible way to move ahead is by answering specific questions related to a company’s or business service, product or brand. Time should be spent for hearing their audience and how their customers put their queries about products within that particular industry. Eventually, all these steps will soar the chances of business to appear higher or rank higher in a voice search result.

In all the surveys, it is estimated that purchases made through voice search devices will hike to $40 billion by the end of 2022, when shopping done with these devices. It has become more integrated and commonplace now-a-days. This is far the next big change in online shopping, and it's one that retailers are paying close attention to as they strive to leverage and grow their businesses.

Future of Voice Based Shopping

Currently, only a small percentage of people owning smart speakers and devices use it for shopping purposes, not more than 305 but, this number is expected to shoot up to around 50% by 2020. However, the industry is just is still budding and the pace at which technology is developing, in no time it will get stronger. At the foremost, there is a need for better and enhanced security, to avoid accidental orders which seems to be a problem for market players. Reports of devices, not being able to understand the voice command are constantly heard, providers need to work around this and offer better user experience to buyers.

In the future, these devices will give more personalized experience to the buyer at the same time understand different voices in the same house. Another, feature to look out for in the voice based shopping market is the ability to talk to your cars, refrigerators, lamps, fans and other devices. The automotive industry would also witness new technologies and growth by car speech recognition. 2018, saw car speech recognition as becoming standard and would be growing in the coming years. Amazon has partnered with Marriott Group to launch Alexa exclusively for hospitality. This will help consumers undertake simple tasks like ordering towels, calling and controlling room lighting.